CT Corp., the Indonesian conglomerate with interests spanning retail, media and financial services, hired 13 banks to arrange a $1.275 billion syndicated loan, according to three people familiar with the matter.
The lenders will seek other banks to join the financing starting next week, the people said, asking not to be identified because the details are private. CT will use the proceeds to help refinance an existing $750 million acquisition loan it signed in 2013, backing its acquisition of the 60 percent of Carrefour SA in Indonesia it didn’t already own, other people familiar with the matter said on Nov. 25.
The new facility comprises a $275 million three-year tranche and two $500 million five-year tranches, those people said. Its interest margin will be at least 100 basis points lower than the existing $750 million loan, which pays 500 basis points more than the London interbank offered rate, they said.
CT hired Australia & New Zealand Banking Group Ltd., Bank of Tokyo-Mitsubishi UFJ Ltd., Bank of America Corp., BNP Paribas SA, Credit Suisse Group AG, DBS Group Holdings Ltd., Deutsche Bank AG, Goldman Sachs Group Inc., ING Groep NV, Malayan Banking Bhd, Royal Bank of Scotland Plc, Sumitomo Mitsui Banking Corp. and Standard Chartered Plc, the people said today. Roadshows will be held in Singapore and Taipei on the week of Jan. 20, they said.
The company’s Jakarta-based spokesman didn’t immediately reply to a phone message or an e-mail seeking comment on the financing today.